Aug 10
12
Let me start with the good news. Foreclosure filings across the nation are down 10% from last year. Default notices have been declining for 6 months on a year-over-year basis.
Filings were down in Nevada by 30% from last year, but we’re still the top state for foreclosure filings for the 43rd straight month. One in 81 homes statewide and 1 in 78 Clark County homes were somewhere in the foreclosure process. Remember, that’s everything from Notice of Default through in the MLS as a bank-owned property, not just foreclosures on the courthouse steps.
One last thing: the FHA has a new program for underwater homeowners who are up to date on their payments, but do not currently have an FHA loan. If that describes you, it’s worth talking to a mortgage expert. However, I suspect that few people will qualify and few banks will want to participate.
[...] This post was mentioned on Twitter by Bridget Magnus, Michael W. Hudson. Michael W. Hudson said: RT @bmagnus: #Nevada's still #1, but not in a good way #foreclosure #lvre http://bit.ly/cuLscZ [...]